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When Steve Jobs and Steve Wozniak created Apple computer in a garage in Palo Alto, it heralded the beginning of the PC revolution that ultimately dealt a death-blow to dozens of older companies.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Death
Blow
Garage
Older
Dealt
Created
Steve
Computer
Apple
Revolution
Dozen
Palo
Beginning
Apples
Heralded
Company
Companies
Alto
Jobs
Ultimately
Dozens

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Sustainable growth is characterized by one simple rule: New customers come from the actions of past customers.
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If you cannot fail, you cannot learn.
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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
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We must learn what customers really want, not what they say they want or what we think they should want.
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New Customers come from the action of past customers
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Entrepreneurs always pitch their idea as 'the X of Y,' so this is going to be 'the Microsoft of food.' And yet disruptive innovations usually don't have that character. Most of the time, if something seems like a good idea, it probably isn't.
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A head start is rarely large enough to matter, and time spent in stealth mode-away from customers-is unlikely to provide a head start. The only way to win is to learn faster than anyone else.
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The only person who can put you out of business, in the early days, is yourself.
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It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.
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A pivot is a change in strategy without a change in vision.
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Don’t be in a rush to get big. Be in a rush to have a great product.
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What differentiates the success stories from the failures is that the successful entrepreneurs had the foresight, the ability, and the tools to discover which parts of their plans were working brilliantly and which were misguided, and adapt their strategies accordingly.
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If you don't know who your customer is, you don't know what quality is.
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I would say, as an entrepreneur everything you do - every action you take in product development, in marketing, every conversation you have, everything you do - is an experiment. If you can conceptualize your work not as building features, not as launching campaigns, but as running experiments, you can get radically more done with less effort.
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Learning to see waste and systematically eliminate it has allowed lean companies such as Toyota to dominate entire industries. Lean thinking defines value as 'providing benefit to the customer' anything else is waste.
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Because startups often accidentally build something nobody wants, it doesn’t matter much if they do it on time and on budget. The goal of a startup is to figure out the right thing to build - the thing customers want and will pay for - as quickly as possible.
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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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The attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure.
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The big question of our time is not Can it be built? but Should it be built? This places us in an unusual historical moment: our future prosperity depends on the quality of our collective imaginations.
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This is one of the most important lessons of the scientific method: if you cannot fail, you cannot learn.
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